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Treasury strategy

Sponda’s treasury strategy is based on a broad base of financiers, a diversified range of financing instruments, a debt portfolio with evenly spread maturity dates, managed hedging of interest rate risks and good liquidity. The company aims to primarily finance its operations by arranging credit that is unsecured.

The company’s interest-bearing loans consist of syndicated credit facilities totalling EUR 605 (2012: 675) million, bonds totalling EUR 473 (326) million, commercial papers totalling EUR 256 (251) million and loans from financial institutions totalling EUR 454 (485) million. The company maintains its liquidity and ensures the availability of financing with a EUR 350 million commercial paper programme and unused committed short-term credit limits. On the financial statements date for 2013, Sponda had unused credit limits of EUR 510 million.

Sponda’s treasury unit is responsible for the Group’s financing and funding acquisition.